First Trust Advisors LP Increases Stock Holdings in ITT Inc. (NYSE:ITT)

First Trust Advisors LP grew its position in shares of ITT Inc. (NYSE:ITT) by 18.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 659,143 shares of the conglomerate’s stock after purchasing an additional 103,198 shares during the period. First Trust Advisors LP owned approximately 0.81% of ITT worth $94,178,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Rialto Wealth Management LLC purchased a new stake in ITT during the 4th quarter worth $26,000. ORG Wealth Partners LLC acquired a new stake in shares of ITT during the fourth quarter valued at about $30,000. Whipplewood Advisors LLC purchased a new stake in shares of ITT during the fourth quarter worth about $34,000. V Square Quantitative Management LLC lifted its stake in shares of ITT by 79.1% in the fourth quarter. V Square Quantitative Management LLC now owns 412 shares of the conglomerate’s stock worth $59,000 after acquiring an additional 182 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in ITT by 291.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 415 shares of the conglomerate’s stock valued at $59,000 after purchasing an additional 309 shares during the last quarter. 91.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on ITT. UBS Group upped their target price on ITT from $165.00 to $168.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Citigroup cut their price target on shares of ITT from $181.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, April 14th. StockNews.com raised shares of ITT from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. KeyCorp reduced their price target on shares of ITT from $170.00 to $150.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Finally, Stifel Nicolaus lowered their price objective on ITT from $179.00 to $148.00 and set a “buy” rating for the company in a report on Monday, April 14th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $158.57.

ITT Stock Up 0.9 %

Shares of ITT stock opened at $127.93 on Monday. The stock has a market capitalization of $10.36 billion, a price-to-earnings ratio of 20.31, a PEG ratio of 1.89 and a beta of 1.36. ITT Inc. has a twelve month low of $105.64 and a twelve month high of $161.13. The company has a current ratio of 1.40, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. The business’s 50 day simple moving average is $133.86 and its 200-day simple moving average is $143.63.

ITT (NYSE:ITT) last issued its earnings results on Thursday, February 6th. The conglomerate reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.02. ITT had a return on equity of 18.03% and a net margin of 14.27%. Equities research analysts forecast that ITT Inc. will post 6.51 earnings per share for the current year.

ITT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 6th were given a $0.351 dividend. The ex-dividend date was Thursday, March 6th. This is an increase from ITT’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a yield of 1.10%. ITT’s dividend payout ratio (DPR) is currently 22.22%.

ITT Profile

ITT Inc, together with its subsidiaries, manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets in the United States and internationally. The Motion Technologies segment manufactures brake pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, trucks, light- and heavy-duty commercial and military vehicles, buses, and trains.